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scrappycocco

Gold About To Crash Again

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Well Asheron hasn't opened another gold-ramping, "It may be going down so what a great time to buy" thread since January. Even he's given up the delusion.

Or else he's cashed in his profits and is spending them on canned goods and a crossbow ready for Armagheddon..

It's not a crash, it's just a slow motion return to sanity. Next leg coming soon.

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Heres the link:

https://www.galvan.c...ter/MW/Gold2013

but you need to register and endure their useless stock picks and constant stating the obvious.

You can pick up a copy without handing over your ID here:

http://rapidshare.co...56/Gold2013.pdf

Published by www.galvan.co.uk, dated 2 May 2013.

I've never heard of this outfit before and their attempt to get marketing information is very aggressive - you must provide your phone number and consent to unsolicited phone calls to register with them. Ergh, no thanks.

My overall impression of the report is that most of it is pretty sensible but a bit late. If they'd published this before the drop in April, I'd be more impressed.

Notable points:

- Breaching the $1,500 - $1,525 support level left the market primed for a cascade because there were so many stops clustered around that region.

- Some of the big gold investors are not 'bugs' and will dispose of it quickly if they think the overall economic climate is improving

- Indian banks have a thing for lending against gold collateral which could lead to a self reinforcing pattern of gold sales in some scenarios

Personally, with hindsight, I think the gold surge was driven more by sentiment rather than any economic fundamentals and I, like many other bugs, didn't appreciate how vulnerable the price was until it corrected in April.

I regard the correction as an ongoing thing. I'm not tempted to buy back in.

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if paper money went to zero...i can assure you, any gold you were holding would be no use to you.

Do you have any proof of this? You think currencies haven't disappeared before?

Gold has been used for thousands of years as a medium of exchange. If Sterling went to zero you could trade your gold for US Dollars, Euros or Yen. You could buy land, houses or shares.

Ancient civilizations have vanished into the night and yet gold remains.

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if paper money went to zero...i can assure you, any gold you were holding would be no use to you.

Maybe so, if your perception of world economy is limited to your postcode.

But I can assure you that anywhere in Asia, South America, Africa and a good part of Souther Europe you can make transactions in gold.

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if paper money went to zero...i can assure you, any gold you were holding would be no use to you.

Corrected for you:

If paper money went to zero...i can assure you, any gold you were holding would probably be of no immediate no use to you.

If you were able to escape or survive the catastrophe that destroyed the currency, however, gold would be an efficient store of wealth that could be traded for currency.

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Corrected for you:

If paper money went to zero...i can assure you, any gold you were holding would probably be of no immediate no use to you.

If you were able to escape or survive the catastrophe that destroyed the currency, however, gold would be an efficient store of wealth that could be traded for currency.

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I placed my short weeks ago as I see it falling to $1250, then bouncing a little then going to $1050. I'm shorting this accordingly and will wait for signs of a bottom at or aroud $1050 before I go Long again.

If you use the profit to buy ounces of gold that's a good strategy.

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If you use the profit to buy ounces of gold that's a good strategy.

MY plan is to split the profits 3 ways. 1/3rd into Gold Sovereigns, 1/3rd into XAU to speculate and the final 1/3rd to just sit around as cash should I find something I want to buy/invest in.

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I've went Short again at $1250. My hopes ofa bounce to the $1300 range are dwindling. A Drop to $1050 looks more likely to happen first. I'll hold my Short until then, adding on the way down the same as I did on the last big dip. At $1050 I will go Long if it cna form a base there.

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Well turns out I was right in the first place. I managed to get another Short in when I saw it rally. Didn't quite get the top but managed to get in pretty near at $1290. It could overshoot to $1350 but it won't last long.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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